The stock of AeroGrow International (OTC: AERO) saw huge gains after being promoted by a number of newsletters today. AeroGrow International traded at a share price of $0.045 at one point today, and eventually closed today’s trading session at $0.019 per share, or 46.2% higher than its previous close. Volume of AeroGrow International also surged to a new record today, with 10.96 million shares exchanging hands, bypassing its daily average of 21,226 shares.
There are 65 results listed on stockpromoters.com regarding the promotion of AeroGrow International, with 16 of the results dated today, July 27, 2012. Oddly, none of the promotions today are listed as being compensated by the company or its affiliates. On Twitter, @pennystock24 also mentioned that Pennystock for Dummies, The Pennystock Geek, among many others, promoted Aero Grow International today.
Despite the massive promotion of the stock and today’s soaring share price, AeroGrow International has been quite volatile throughout the year-to-date. On March 21, AeroGrow International traded to an all-year high and closed at $0.025, while volume of the stock was at 47,950. On May 30, 2012, the stock traded at an all-time low, closing at $0.008 with 210,040 shares exchanging hands.
Headlines of AeroGrow International have been scarce, aside from some standard financial filings. To find any notable news for the company in 2012, we have to go back to June and earlier:
- June 5, 2012: AeroGrow International announced that it successfully raised $1.59 million in capital on May 31, 2012.
- May 8, 2012: AeroGrow International announced that it would temporarily reduce the exercise price on all outstanding warrants to purchase its common stock to $0.01 per share, beginning on May 10, 2012 and ending on May 31, 2012. By reducing the exercise prices, the company hopes to raise new equity capital to support its operating and growth requirements.
- April 16, 2012: AeroGrow International announced the completion of a series of transactions that converted outstanding debt and preferred stock into common stock.
AeroGrow International is the maker of the AeroGarden® line of indoor gardening products. AeroGrow International was incorporated on March 25, 2002. It is a developer, marketer, direct-seller and wholesaler of indoor garden systems, designed for consumer use in the gardening, cooking, eating, and home and office decor markets.
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